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Answers (3)
- sunnyview
- Contributions:25139
- wetdawgs
- Contributions:26842
If your husband's dad's name is on the house, and yours isn't, then it does eliminate your eligibility. It must be the purchaser's primary residence.
- Michael Emery, "MikeEmery"
- Contributions:7298
Yes, you do need to file out paperwork to collect the credit.
Assuming this was a transaction done in this past year (and you qualify for the 8k credit) you would need to fill out IRS form 5405.
You will also need to file an amended 1040 called a 1040x. This will amend your 2009 taxes to get the credit earlier than filing for the credit on your 2010 taxes, but that's your choice.
If you choose to claim the credit on your 2010 taxes, you will need to wait for the IRS to release a 2010 5405 form. Otherwise you can use the form that's currently online on IRS.gov The 1040x form is also available on the IRS site as well as instructions for filling out both forms.
You will also need a copy of your HUD1 or closing statement. This would've been provided to you at your closing. Make a copy, don't mail the original.
Any qualified tax professional can help you file the proper paperwork AND make sure you are qualified for the credit.
Assuming this was a transaction done in this past year (and you qualify for the 8k credit) you would need to fill out IRS form 5405.
You will also need to file an amended 1040 called a 1040x. This will amend your 2009 taxes to get the credit earlier than filing for the credit on your 2010 taxes, but that's your choice.
If you choose to claim the credit on your 2010 taxes, you will need to wait for the IRS to release a 2010 5405 form. Otherwise you can use the form that's currently online on IRS.gov The 1040x form is also available on the IRS site as well as instructions for filling out both forms.
You will also need a copy of your HUD1 or closing statement. This would've been provided to you at your closing. Make a copy, don't mail the original.
Any qualified tax professional can help you file the proper paperwork AND make sure you are qualified for the credit.
Should we have filled out any paper work for the tax credit?
also if my husbands dad's name is on the house (cause he helped us get it) but it is our house does that eliminate our eligability right there?
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